ServisFirst Bancshares, Inc. Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2018

	Fair Value Measurements at September 30, 2018 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable Inputs		Unobservable
	Assets (Level 1)		(Level 2)		Inputs (Level 3)		Total
Assets Measured on a Recurring Basis:	(In Thousands)
Available-for-sale debt securities:
U.S. Treasury and government agencies	$	-	$	74,278	$	-	$	74,278
Mortgage-backed securities		-		298,824		-		298,824
State and municipal securities		-		112,698		-		112,698
Corporate debt		-		85,696		6,525		92,221
Total assets at fair value	$	-	$	571,496	$	6,525	$	578,021

	Fair Value Measurements at December 31, 2017 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable Inputs		Unobservable
	Assets (Level 1)		(Level 2)		Inputs (Level 3)		Total
Assets Measured on a Recurring Basis:	(In Thousands)
Available-for-sale debt securities:
U.S. Treasury and government agencies	$	-	$	55,356	$	-	$	55,356
Mortgage-backed securities		-		276,498		-		276,498
State and municipal securities		-		134,849		-		134,849
Corporate debt		-		64,877		6,500		71,377
Total assets at fair value	$	-	$	531,580	$	6,500	$	538,080

	Fair Value Measurements at September 30, 2018
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Impaired loans	$	-	$	-	$	30,932	$	30,932
Other real estate owned and repossessed assets		-		-		5,714		5,714
Total assets at fair value	$	-	$	-	$	36,646	$	36,646

	Fair Value Measurements at December 31, 2017
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Impaired loans	$	-	$	-	$	34,901	$	34,901
Other real estate owned and repossessed assets		-		-		6,701		6,701
Total assets at fair value	$	-	$	-	$	41,602	$	41,602

	September 30, 2018				December 31, 2017
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 inputs:
Cash and due from banks	$	136,788	$	136,788	$	238,062	$	238,062

Level 2 inputs:
Available for sale debt securities		571,496		571,496		531,580		531,580
Equity securities		889		889		1,034		1,034
Federal funds sold		229,033		229,033		239,524		239,524
Mortgage loans held for sale		5,277		5,277		4,459		4,459
Bank-owned life insurance contracts		129,869		129,869		127,519		127,519

Level 3 inputs:
Available for sale debt securities		6,525		6,525		6,500		6,500
Held to maturity debt securities		250		250		250		250
Loans, net		6,265,720		6,174,697		5,756,954		5,712,441

Financial liabilities:
Level 2 inputs:
Deposits	$	6,505,351	$	6,497,244	$	6,091,674	$	6,086,085
Federal funds purchased		246,094		246,094		301,797		301,797
Other borrowings		64,657		64,601		64,832		65,921